ATMs didn’t kill bank teller jobs, but the iPhone did

We're already seeing large software companies figure out that they don't need 5,000 developers. They probably only need 1,000 or maybe even fewer.

However, the number of software companies being started is booming which should result in net neutral or net positive in software developer employment.

Today: 100 software companies employ 1,000 developers each[0]

Tomorrow: 10,000 software companies employ 10 developers each[1]

The net is the same.

[0]https://x.com/jack/status/2027129697092731343

[1]https://www.linkedin.com/news/story/entrepreneurial-spirit-s...

My main reason to go to bank after online was to deal with physical things. Mainly checks and specifically depositing them. Now, I can usually do that with my phone because of the camera. Even if I had a webcam before, I don’t recall the functionality being there. They had check scanners but usually for businesses and my check volume is really low so never made sense to get one (usually came with a monthly fee to have one iirc)

Even now, the mobile deposit limit seems sufficiently low that I still go to the bank with more frequency than I’d like. Luckily, the ATM at the bank has a check scanner now that doesn’t have a limit so that’s usually easier and faster. It’s the daily $5000 limit I hit the most, a single check and put me over it and require a trip to bank. I think the monthly limit is $30000 and that doesn’t get in my way often. I think $5000 is too low of a daily limit. It’s common enough that I have to make a $5k+ settlement with friends/family that usually always has to be done by check. (For curious, This is usually travel that I pay for and we settle up later.)

Less common, but sometimes I need to get a bank check (guaranteed funds) or a money order. Way less frequent is need to get/give cash funds. Usually can use ATM for this unless it’s a larger withdrawal or if I need some particular denomination. This whole paragraph accounts for about 1-4 annual trips in any given year though.

I'm going to bet that you are a millennial or older? We need our big screens for $IMPORTANT work (buying big things, money stuff, etc.). GenZ tends to be less bothered by it and just does it all on the tiny screen in their pocket. It's time to schedule a colonoscopy.

What's a check? As the saying goes, 'I'm too European for this'.

On a more serious note, the last time I saw a cheque in the UK was my grandfather balancing his cheque book in the mid 80s. It really has been that long since they were in general use in the UK, at least.

Just like with the prevalance of Apple/iPhones, the US banking system is global outlier.

Things you can't do with my banking app you can do with the web site:

- Extract your transactions to excel/csv

- Use OpenBanking

- See all my accounts on screen at once

- Sharedealing

- International transfers

But people are right, banks trust the mobile app more, and realy on it as an MFA device, so even if you use the website you still need the app.

Europe is a big place, but my understanding is that the US is the outlier here and Europe is relatively similar in this regard.

The only time I really saw checks used was when I was a child ~30-35 years ago and my parents used them. I did once cash a check from an elderly relative, but that was very unusual and only happened once. I didn't even know it was still possible to do that, my reaction was more like if someone had handed me a stack of punch cards to run on my computer.

There hasn't been anything an average person used checks for in the last decades in Germany. Except a few elderly people, nobody uses checks and there are no rebates via checks at all.